Thursday, 15 December 2022

2008 FINANCIAL CRISIS

 'The 2008 financial crisis began with cheap credit and lax lending standards that fueled a housing bubble.

'When the bubble burst, the banks were left holding trillions of dollars of worthless investments in subprime mortgages.

'The Great Recession that followed cost many their jobs, their savings, and their homes.'

investopedia.com/articles/economics/09/financ

'Faced with the bursting of the dot-com bubble, a series of corporate accounting scandals, and the 9 11 attacks, the Federal Reserve lowered the federal funds rate from 6.5% in May 2000 to 1% in June 2003.'


posted by Anon @ 00:25   1 Comments

1 Comments:

At 15 December 2022 at 00:40 , Anonymous Anonymous said...

EU dictatorship imposes carbon themed suicide on economy.

In another landmark carbon market deal this week, the European Parliament and the EU member states reached on Tuesday a provisional agreement to impose a carbon tax on the imports of polluting non-EU products such as iron and steel, cement, aluminum, fertilizers, and electricity, in a first trade regulation accounting for carbon emission intensity.

While the EU says that the law will incentivize non-EU countries to increase their climate ambition, the EU’s key trading partners, including the United States and emerging economies in Asia, have expressed concern that the new rules would further complicate trade and raise export costs for U.S. and other manufacturers.

https://oilprice.com/Latest-Energy-News/World-News/EU-To-Raise-21-Billion-From-Carbon-Market-To-Help-Ditch-Russian-Gas.html

 

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